State News
New York City’s Pension is Changing How it Invests
The New York City Retirement System is working on changes that will alter the investment strategy of the nation’s largest city. NYCRS is reviewing its strategic asset allocation and internal operations, in particular. Read more
Generous Benefits Keep Oregon Government Worker Pay Competitive, Study Finds
The state of Oregon continues to pay its workers competitive compensation despite pandemic fluctuations in the labor market, thanks largely to highly subsidized health insurance and generous retirement benefits, a new analysis by the state’s human resources office has found. Read more
Rebuilding Trust, Funding Puts Arizona Plan Back on Track
Among the top 200 retirement plans during the year ended Sept. 30, PSPRS was one of only six U.S. retirement plans that had an increase in assets. Read more
Connecticut Municipal Pension Plan Debt Rises Dramatically, Putting Pressure on Towns
While Connecticut has made headway paying down billions in state employee and teacher pension debt, another state-run retirement plan is heading in the opposite direction. Read more
New York State Lawmakers Making Push for Police Officer Pension Parity
State Senator Michelle Hinchey is among the lawmakers leading the charge to include pension parity for 1,100 state police officers who are members of the PBA of New York State. Read more
CalSTRS Strengthens Organization by Embracing DEI
CalSTRS staff updated the board on internal and external DEI activities and gave an overview of efforts to incorporate DEI in business processes and investment practices at the March meeting. Read more
Recession Odds Greater Than 50%, New York City Retirement Systems CIO Says
There's more than a 50% chance of a recession, and while not imminent, the $248.2 billion New York City Retirement Systems is focused on global inflation and the response of central banks worldwide to prepare, CIO Steven Meier said. Read more
Indiana Public Retirement System Hires Strive as Proxy-Voting Consultant
The Indiana Public Retirement System, Indianapolis, has hired a firm co-founded by ESG investing critic and U.S. presidential candidate Vivek Ramaswamy as a consultant on proxy-voting matters, according to committee testimony from an INPRS official. Read more
Pro-ESG Vermont Fights Fossil Fuel Divestment Bill
The Vermont Pension Investment Commission, the overseer of Vermont's three largest pension funds, is fighting to beat back a bill that would require it to divest any holdings in fossil fuel companies — and so far its efforts appear to be working. Read more
A Wyoming Pension Bill for Volunteer Firefighters, EMTs, and First Responders is Signed into Law
A bill that restores funding meant to support and incentivize critical emergency service volunteerism has been signed into law by Gov. Mark Gordon. It allocates several million dollars to the Volunteer Firefighter Pension Fund, which also provides retirement benefits to other emergency service volunteers. Read more
CalPERS Votes to Oppose State Bill Barring it from Fossil Fuel Holdings
The CalPERS board voted to oppose a California bill that would prevent the $457.4 billion pension plan and the California State Teachers' Retirement System, West Sacramento, from making new investments in fossil fuel companies and require them to divest from such companies by July 1, 2030, if consistent with the boards' fiduciary duty. Read more
Illinois Bill Would Give Treasurer Proxy-Voting Power for State Public Pension Funds
If Senate Bill 2152 is passed by the Illinois legislature, the responsibility for proxy voting by the state's public pension funds will shift to Michael W. Frerichs, the state's treasurer. Read more
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